SSR Mining Inc. (NASDAQ:SSRM) Receives Average Recommendation of “Hold” from Analysts

Shares of SSR Mining Inc. (NASDAQ:SSRM) (TSE:SSO) have been assigned an average recommendation of “Hold” from the four ratings firms that are currently covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.93.

A number of brokerages have recently weighed in on SSRM. CIBC raised their price target on SSR Mining from $8.25 to $9.75 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised SSR Mining from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $5.50 to $8.00 in a research note on Wednesday, February 5th. StockNews.com raised SSR Mining from a “sell” rating to a “hold” rating in a research note on Friday, January 17th. Finally, UBS Group increased their price objective on SSR Mining from $7.15 to $12.05 and gave the company a “buy” rating in a research note on Tuesday, February 18th.

Institutional Trading of SSR Mining

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in SSR Mining by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,548,252 shares of the basic materials company’s stock worth $8,794,000 after buying an additional 220,349 shares during the last quarter. Two Sigma Advisers LP boosted its stake in SSR Mining by 16.2% in the 3rd quarter. Two Sigma Advisers LP now owns 3,320,384 shares of the basic materials company’s stock worth $18,860,000 after buying an additional 462,000 shares during the last quarter. Franklin Resources Inc. boosted its stake in SSR Mining by 649.6% in the 3rd quarter. Franklin Resources Inc. now owns 147,012 shares of the basic materials company’s stock worth $847,000 after buying an additional 127,401 shares during the last quarter. Verition Fund Management LLC boosted its stake in SSR Mining by 177.5% in the 3rd quarter. Verition Fund Management LLC now owns 105,763 shares of the basic materials company’s stock worth $601,000 after buying an additional 67,657 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in SSR Mining by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,251 shares of the basic materials company’s stock worth $7,542,000 after buying an additional 75,563 shares during the last quarter. 68.30% of the stock is owned by institutional investors and hedge funds.

SSR Mining Trading Down 2.6 %

Shares of SSRM stock opened at $10.23 on Monday. SSR Mining has a fifty-two week low of $3.90 and a fifty-two week high of $10.91. The stock has a market cap of $2.07 billion, a P/E ratio of -7.93, a P/E/G ratio of 0.37 and a beta of 0.62. The business has a fifty day simple moving average of $7.95 and a 200-day simple moving average of $6.54. The company has a quick ratio of 1.97, a current ratio of 4.70 and a debt-to-equity ratio of 0.08.

SSR Mining (NASDAQ:SSRM) (TSE:SSO) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.08). SSR Mining had a negative net margin of 26.24% and a positive return on equity of 1.46%. The firm had revenue of $323.19 million during the quarter, compared to analysts’ expectations of $262.20 million. On average, analysts forecast that SSR Mining will post 0.73 earnings per share for the current fiscal year.

About SSR Mining

SSR Mining Inc, together with its subsidiaries, engages in the operation, acquisition, exploration, and development of precious metal resource properties in the United States, Türkiye, Canada, and Argentina. The company explores for gold doré, copper, silver, lead, and zinc deposits. Its mines include the Çöpler, located in Erzincan province, Turkey; the Marigold, located in Nevada, the United States; the Seabee, located in Saskatchewan, Canada; and the Puna, located in Jujuy province, Argentina.